12:35 PM, 29th January 2013, About 10 years ago 2
Shawbrook Bank specialists in commercial and BTL finance have reduced their arrangement fees to 1.70% a saving of 0.80%, and their rates by up to 0.60% across their term product range.
Big advantages Shawbrook have over many other commercial lenders is their desire to lend with far less onerous stress testing compared to high street banks, Interest Only for commercial and BTL property and lending directly to Limited companies.
Malcolm Jones of Brooklands commercial finance said ” Shawbrook are specialists in good sense not using a tick box appraoch and allow me direct access to discuss cases with underwriters. This is invaluable when trying to get cases through for clients and they also have excellent turn around times.”
Details of products criteria and costs are below:
• Rates reduced by up to 0.35% on semi commercial products. These now start from 5.20% above 3 month LIBOR and the clients still have 3, 5 & 10 year interest only options up to 70% LTV
• Arrangement fee reduced by 0.80% to 1.70%. Added to the loan (outside of max LTV)
3 and 5 year refurbishment:
• Margin reduced by 0.50%, now just 4.95% above 3month LIBOR
• Lending against the after-works value – releasing capital for the next project
• Arrangement fees reduced to 1.70%. Shawbrook’s arrangement fees are also added to the loan (outside of max LTV)
• Rates reduced by up to 0.60%. Rates start from 4.75% above 3 month LIBOR. At 75% LTV rates are just 4.95% above 3 month LIBOR
• Aggregate values now used for up to 5 units in a block
• Shawbrook are open for lending up to £10m to any one client
• Arrangement fees reduced to 1.70%. Added to the loan (outside of max LTV)
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